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Trading EURUSD only 43,756 replies

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EURUSD only

  • #75,821
  • Jan 29, 2019 7:37pm Jan 29, 2019 7:37pm
Quoting moneymove
Trading EURUSD with Elliot Wave approach Using simplified Elliot Wave principle, yesterday I trade BRENT Oil with good result. Brent price movement happens to unfold exactly like textbook EW patterns. Today I will trade EURUSD using the same approach. Hopefully, unlike yesterday there will be some tradable volatility. EURUSD H1 Outlook {image}
You could not confirm a downtrend continuation breaking your B/2. Using your chart, you could see a double correction and see 1.1500. No trolling.
Don't believe me just watch!
  • #75,822
  • Jan 29, 2019 9:07pm Jan 29, 2019 9:07pm
EURUSD broke above 1.1425 resistance, suggesting that the downside movement from 1.1570 had completed at 1.1289 already. Further rise could be expected in a couple of days and next target would be at 1.1500 area. Near term support is at 1.1390, a breakdown below this level could bring the price back to 1.1350 area.
NEVER BREAK RULES
  • #75,823
  • Jan 29, 2019 9:30pm Jan 29, 2019 9:30pm
If you like patterns. There you go.
Attached Image (click to enlarge)
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Don't believe me just watch!
  • #75,824
  • Jan 29, 2019 9:44pm Jan 29, 2019 9:44pm
Quoting LCForex
If you like patterns. There you go. {image}
What is that pattern those yellow lines star wars ship ... just joking, is that i believe diamond pattern?
  • #75,825
  • Edited 10:31pm Jan 29, 2019 10:19pm | Edited 10:31pm
Hi everyone, looks like a great opportunity to sell before EU session opens - im waiting a little longer for it to climb up a littler higher near prior resistance before selling.

There is a distinct possibility that it will goto +1.1475 tho - so it wont have a tight stop on the pending at 1445. Target is arbitrrary but somewhere near 1400-1420 or 25-45 pips. If it does keep going up to 1475 - i will simply add another sell when it looks exhausted and hold them both. Also- if i happen to be watching the screen, im waiting for trendline support on the 5min to break - that may also trigger a market sell - if im watching that is!

We also have triple swaps tonight - so that should put some downward pressure on this pair heading into asia tomorrow...

happy trading
  • #75,826
  • Jan 29, 2019 10:29pm Jan 29, 2019 10:29pm
I think Im going against the trend and looking for long. That's if the price can break long term FIB 38.2.
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  • #75,827
  • Jan 29, 2019 10:31pm Jan 29, 2019 10:31pm
Quoting Techanalyst
{quote} What is that pattern those yellow lines star wars ship ... just joking, is that i believe diamond pattern?
Hi Tech, good morning. This pair seems really bent on taking money from sellers. It really couldn't properly break 1.1420 yesterday. Maybe we see much higher before the fall. For good support areas like 1.1370-90 not to be properly checked then there is also a risk on sudden breakdown after some rise.

FOMC today seems like the perfect catalyst for price to go high if suggestions about reducing rate hikes and all that are true.
  • #75,828
  • Jan 29, 2019 10:34pm Jan 29, 2019 10:34pm
Quoting majorpears
I think Im going against the trend and looking for long. That's if the price can break long term FIB 38.2. {image}
I've been wanting to ask... are you and majorpairs the same guy/know each other or something
You hesitate, you masturbate.
  • #75,829
  • Jan 29, 2019 10:38pm Jan 29, 2019 10:38pm
Quoting engweijie
{quote} I've been wanting to ask... are you and majorpairs the same guy/know each other or something
Good morning Eng. Wish you a great day.
  • #75,830
  • Jan 29, 2019 10:46pm Jan 29, 2019 10:46pm
Quoting Mitiblotch
{quote} Good morning Eng. Wish you a great day.
Same to you bro. Trade safe
You hesitate, you masturbate.
  • #75,831
  • Jan 29, 2019 10:46pm Jan 29, 2019 10:46pm
Quoting Mitiblotch
{quote} Hi Tech, good morning. This pair seems really bent on taking money from sellers. It really couldn't properly break 1.1420 yesterday. Maybe we see much higher before the fall. For good support areas like 1.1370-90 not to be properly checked then there is also a risk on sudden breakdown after some rise. FOMC today seems like the perfect catalyst for price to go high if suggestions about reducing rate hikes and all that are true.
Yes the FOMC is a risk coming up - however look at the current pricing of DXY - a certain amount of discounting has already been priced into the USD since powell turned slightly dovish in recent weeks. The market is already expecting a pause in rate hikes from the fed.
Also consider - the data out of Europe has been pretty bad and the ECB has also shifted to a more dovish tone. So all things considered, risks are about balanced at current pricing on this pair. Only a big surprise from the FOMC will upset the current balance - remains to be seen but i doubt we will get a huge surprise today. Data dependency language will remain i think. We also have Non farm employment before the FOMC - keep and eye on that as it could be very green instead of the low expectation projected.

Another hunch i have is that Powell and other members of the fed deliberately put dovish words into their speeches to bring back a fair market value to the USD when it was skyrocketing and to calm the stock markets which were crashing. The overinflated dollar was harmful to US exports and investors wealth... However in reality - i dont think powell or the other board members have changed their fundamental views on the economy at all - powell just wanted to portray a slight dovish tone in order to appease the whitehouse and all the others who were really starting to criticize his hawkish comments last year...
  • #75,832
  • Jan 29, 2019 11:44pm Jan 29, 2019 11:44pm
Quoting groper
{quote} Yes the FOMC is a risk coming up - however look at the current pricing of DXY - a certain amount of discounting has already been priced into the USD since powell turned slightly dovish in recent weeks. The market is already expecting a pause in rate hikes from the fed. Also consider - the data out of Europe has been pretty bad and the ECB has also shifted to a more dovish tone. So all things considered, risks are about balanced at current pricing on this pair. Only a big surprise from the FOMC will upset the current balance - remains to...
I think Price where it stands right now represents your statement pretty good. Brexit votes YD against a Brexitdelay was already priced in it seems like. WeŽd have to wait for Eurex/London to open to get a better clue of what the market is trying to do next. We are completely in Balance/Range right now. Can go either way.
  • #75,833
  • Jan 30, 2019 12:05am Jan 30, 2019 12:05am
My simple plan for today:
Sell short near DS1 / WS1 - Buy long near DPP
Attached Image (click to enlarge)
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  • #75,834
  • Jan 30, 2019 12:25am Jan 30, 2019 12:25am
Quoting Tslj.sg
Too tempting to resist looking at H1 chart 1. Buy @ 1.14200 2. Buy limit @1.14055 3. Buy limit @ 1.13930 SL = 1.13805( 70pips) TP = 1.14500( 132 pips) Risk : Reward ratio almost 1:1 Let's see... {image}
Manual take profit....1.14420
22 pips...
Looking now to sell....
tslj
  • #75,835
  • Jan 30, 2019 12:26am Jan 30, 2019 12:26am
Quoting Tslj.sg
{quote} Manual take profit....1.14420 22 pips... Looking now to sell....
Item 2 & 3...Did not activate....So profit only 22pips
Staying green first...
tslj
  • #75,836
  • Edited 1:23am Jan 30, 2019 12:59am | Edited 1:23am
so far for this week, the strategy is to buy the dips. And from 1.1420x is the buying zone based on 1st standard deviation below this week's VWAP (1.1426 - below peak volume price) at the moment. The VWAP after the flash crash is sitting at 1.4220 (above peak volume price - 1.13637)
Since Frank Sinatra sings in his own way, my chart sing... I did it, my way
  • #75,837
  • Jan 30, 2019 1:02am Jan 30, 2019 1:02am
1.13750 here we come
Attached Image (click to enlarge)
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yes yes yes
  • #75,838
  • Jan 30, 2019 1:02am Jan 30, 2019 1:02am
Quoting groper
Hi everyone, looks like a great opportunity to sell before EU session opens - im waiting a little longer for it to climb up a littler higher near prior resistance before selling. There is a distinct possibility that it will goto +1.1475 tho - so it wont have a tight stop on the pending at 1445. Target is arbitrrary but somewhere near 1400-1420 or 25-45 pips. If it does keep going up to 1475 - i will simply add another sell when it looks exhausted and hold them both. Also- if i happen to be watching the screen, im waiting for trendline support on...
wow - quickest pips i ever made - touched my entry then collapsed 5 mins later... if it bounces im gonna short it again...
  • #75,839
  • Jan 30, 2019 1:03am Jan 30, 2019 1:03am
what just happend? I earned thanks to this move, but what was that?
  • #75,840
  • Jan 30, 2019 1:10am Jan 30, 2019 1:10am
Quoting From0toHero
what just happend? I earned thanks to this move, but what was that?
you can very much expect that when asia bids it up - EU session knocks it down to asia open. theres strategies that ustilise this behavior. Also - expect indecision in the prices today - most will be standing back waiting to see the outcome of FOMC. So expect volatility general mean reversion price behavior until we get closer to the NF jobs data and followed by FOMC. Sell the rallies and buy the dips - you can win both ways for this session...
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